The Central Bank of Nigeria (CBN) says customers should demand new naira notes from their respective banks and reject dirty ones. Speaking in an interview with NAN in Lagos on Thursday, Isaac Okorafor, CBN spokesman, said commercial banks are sabotaging its effort in replacing mutilated notes with new ones. The bank made similar […]
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The Central Bank of Nigeria (CBN) has assured Nigerians that the current recession they are facing would end before the end of the year, even as it blamed overdependence on importation for the problem. CBN governor, Mr. Godwin Emefiele, at the weekend while delivering a lecture entitled: “The Dilemma of Monetary Policy and Exchange Rate […]
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The Central Bank of Nigeria (CBN) and the Police in Lagos are set to prosecute those who spray the Naira at parties among other abuses. “It’s a punishable offence for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Central Bank. It is also […]
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The Central Bank of Nigeria said the recent appreciation of the Naira against other currencies was the result of its market monitoring and intervention. The Acting Director, Corporate Communications of the CBN, Mr Isaac Okoroafor, on Thursday in Sokoto refuted the claim that the allegations by Mr Babatunde Gbadamosi on the illegal sales of foreign […]
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The Central Bank of Nigeria (CBN) has announced that charges on deposits will be re-introduced. In a circular released on its website, the apex bank said the decision was made at the 493rd bankers committee meeting that held on February 8. The apex bank also said it would extend its cashless policy to the remaining […]
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A former Governor of Delta State, Chief James Ibori, has raised issues over the contradictory statements of the Economic and Financial Crimes Commission (EFCC) and former President, Olusegun Obasanjo that offered a $15 million bribe to ex-EFCC boss, Nuhu Ribadu. In a statement on Saturday by his media aide, Tony Eluemunor, Ibori denied ever offering […]
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The rising rate of unemployment in Nigeria has been traced to the anti-job creation policies of the government from the ICT sector to government direct employment, youth entrepreneurship scheme among others. Nigeria with a population of 182,201,962, Nigeria is battling with 49.5 per cent youth unemployment rate as at second quarter 2016. Experts and economic […]
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The House of Representatives on Thursday condemned the ‘spurious charges’ levied on Nigerians when they initiate ATM transactions outside their domiciliary banks. The parliament, in a motion supported by the majority, said Nigerians have lost significant sum of money to bank operators with little or no checks by the Central Bank of Nigeria. The CBN […]
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The immediate past Finance Minister, Ngozi Okonjo-Iweala, said on Monday that having a handle on Nigeria’s spiralling inflation, foreign exchange problem, fiscal deficit and debts control were key to resolving the country’s current economic crisis. Mrs. Okonjo-Iweala, who spoke on Aljazeera TV programme, The Stream, said focusing on the basic issues of macroeconomic stability was […]
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Niger Delta ex-militant leaders under the Federal Government amnesty programme, have given the Central Bank of Nigeria, CBN, a seven-day ultimatum to pay up their outstanding three months stipends, warning that failure to comply would amount to the shutting down of all CBN offices in the Niger Delta region. The ex-militant leaders took the decision […]
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